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SOUTH BEND (INDIANA) REDEVELOPMENT COMMISSION
<br />ESTIMATED IMPACT OF AMENDING THE RIVER EAST DEVELOPMENT AREA AND RIVER EAST ALLOCATION AREA NO. 1
<br />ON OVERLAPPING TAXING UNITS - CLAY TOWNSHIP TAXING DISTRICT (1)
<br />Net Assessed Estimated
<br />South Bend - Clay Township Tax Value of Property
<br />Taxing Unit Rate Taxing Unit Tax Levy
<br />SCENARIO I:PRESENT SITUATION
<br />Represents 2023 taxes payable 2024 property tax levies, assessed valuation, and tax rates.
<br />St. Joseph County $0.5593 $12,462,483,560 $69,702,670
<br />St. Joseph County Major Bridge (2)0.0333 12,462,483,560 4,150,007
<br />St. Joseph County Cumulative Capital Development (2)0.0333 12,462,483,560 4,150,007
<br />Clay Township 0.0276 1,960,253,772 541,030
<br />South Bend Civil City 2.9583 3,645,470,284 107,843,947
<br />South Bend Civil City Cumulative Capital Development (2)0.0282 3,645,470,284 1,028,023
<br />South Bend Community School Corporation 0.8982 6,706,293,024 60,235,924
<br />South Bend Comm. School Corp. Exempt Debt Service - Operating Ref. Rate (2)0.3334 8,398,074,650 27,999,181
<br />South Bend Comm. School Corp. Exempt Debt Service - Debt Ref. Rate 0.0506 8,398,074,650 4,249,426
<br />St. Joseph County Public Library 0.2725 7,176,427,526 19,555,765
<br />St. Joseph County Airport Authority 0.0271 12,462,483,560 3,377,333
<br />St. Joseph County Airport Authority Cumulative Building Fund (2)0.0130 12,462,483,560 1,620,123
<br />South Bend Public Transportation Corporation 0.1036 5,491,024,935 5,688,702
<br />St. Joseph County Solid Waste Management 0.0000 12,462,483,560 0
<br />Total Tax Rate (per $100 AV)$5.3384
<br />Less: South Bend Community School Corporation Referendum Rates (3)(0.3840)
<br />Net Tax Rate (per $100 AV)$4.9544
<br />Tax Incremental Estimated Circuit Net
<br />TIF Allocation Fund Rate Assessed Value Tax Increment Breaker Tax Increment
<br />River East Allocation Area No. 1 (4)$4.9544 $3,063,528 $151,780 ($50,490)$101,290
<br />SCENARIO II:ASSUMES THE AREA, ALLOCATION AREA NO. 1, AND THE PLAN ARE AMENDED Rate Levy
<br />Represents the estimated tax impact of amending and expanding the Area and Allocation Area No. 1.Difference Difference
<br />Assumes the incremental assessed value from the Future Development is captured.From Scenario I From Scenario I
<br />St. Joseph County $0.5593 $12,462,483,560 $69,702,670 $0.0000 $0
<br />St. Joseph County Major Bridge (2)0.0333 12,462,483,560 4,150,007 0.0000 0
<br />St. Joseph County Cumulative Capital Development (2)0.0333 12,462,483,560 4,150,007 0.0000 0
<br />Clay Township 0.0276 1,960,253,772 541,030 0.0000 0
<br />South Bend Civil City 2.9583 3,645,470,284 107,843,947 0.0000 0
<br />South Bend Civil City Cumulative Capital Development (2)0.0282 3,645,470,284 1,028,023 0.0000 0
<br />South Bend Community School Corporation 0.8982 6,706,293,024 60,235,924 0.0000 0
<br />South Bend Comm. School Corp. Exempt Debt Service - Operating Ref. Rate (2)0.3334 8,418,074,650 28,065,861 0.0000 66,680
<br />South Bend Comm. School Corp. Exempt Debt Service - Debt Ref. Rate 0.0505 8,418,074,650 4,249,426 (0.0001)0
<br />St. Joseph County Public Library 0.2725 7,176,427,526 19,555,765 0.0000 0
<br />St. Joseph County Airport Authority 0.0271 12,462,483,560 3,377,333 0.0000 0
<br />St. Joseph County Airport Authority Cumulative Building Fund (2)0.0130 12,462,483,560 1,620,123 0.0000 0
<br />South Bend Public Transportation Corporation 0.1036 5,491,024,935 5,688,702 0.0000 0
<br />St. Joseph County Solid Waste Management 0.0000 12,462,483,560 0 0.0000 0
<br />Total Tax Rate (per $100 AV)$5.3383 ($0.0001)$66,680
<br />Less: South Bend Community School Corporation Referendum Rates (3)(0.3839)
<br />Net Tax Rate (per $100 AV)$4.9544
<br />Tax Incremental Estimated Circuit Net
<br />TIF Allocation Fund Rate Assessed Value Tax Increment Breaker Tax Increment
<br />River East Allocation Area No. 1 (4)$4.9544 $3,063,528 $151,780 ($50,490)$101,290
<br />Expansion Allocation Area - Future Development 4.9544 10,000,000 495,440 (134,160)361,280
<br />SCENARIO III:ASSUMES THE AREA, ALLOCATION AREA NO. 1, AND THE PLAN ARE NOT AMENDED Rate Levy
<br />Assumes the Area and Allocation Area No. 1 are not amended and therefore, the Expansion Areas and Expansion Difference Difference
<br />Allocation Area are not established. Assumes the Projects cannot be funded and the Future Development does not occur. From Scenario I From Scenario I
<br />St. Joseph County $0.5593 $12,462,483,560 $69,702,670 $0.0000 $0
<br />St. Joseph County Major Bridge (2)0.0333 12,462,483,560 4,150,007 0.0000 0
<br />St. Joseph County Cumulative Capital Development (2)0.0333 12,462,483,560 4,150,007 0.0000 0
<br />Clay Township 0.0276 1,960,253,772 541,030 0.0000 0
<br />South Bend Civil City 2.9583 3,645,470,284 107,843,947 0.0000 0
<br />South Bend Civil City Cumulative Capital Development (2)0.0282 3,645,470,284 1,028,023 0.0000 0
<br />South Bend Community School Corporation 0.8982 6,706,293,024 60,235,924 0.0000 0
<br />South Bend Comm. School Corp. Exempt Debt Service - Operating Ref. Rate (2)0.3334 8,398,074,650 27,999,181 0.0000 0
<br />South Bend Comm. School Corp. Exempt Debt Service - Debt Ref. Rate 0.0506 8,398,074,650 4,249,426 0.0000 0
<br />St. Joseph County Public Library 0.2725 7,176,427,526 19,555,765 0.0000 0
<br />St. Joseph County Airport Authority 0.0271 12,462,483,560 3,377,333 0.0000 0
<br />St. Joseph County Airport Authority Cumulative Building Fund (2)0.0130 12,462,483,560 1,620,123 0.0000 0
<br />South Bend Public Transportation Corporation 0.1036 5,491,024,935 5,688,702 0.0000 0
<br />St. Joseph County Solid Waste Management 0.0000 12,462,483,560 0 0.0000 0
<br />Total Tax Rate (per $100 AV)$5.3384 $0.0000 $0
<br />Less: South Bend Community School Corporation Referendum Rates (3)(0.3840)
<br />Net Tax Rate (per $100 AV)$4.9544
<br />Tax Incremental Estimated Circuit Net
<br />TIF Allocation Fund Rate Assessed Value Tax Increment Breaker Tax Increment
<br />River East Allocation Area No. 1 (4)$4.9544 $3,063,528 $151,780 ($50,490)$101,290
<br />(1) Based on information provided from the 2024 Budget Order.
<br />(2) Tax rates are not adjusted for rate-driven funds. Assumes these funds are maintained at their current rates.
<br />(3) Referendum rates established after 2009 cannot be captured by a TIF Allocation Area.
<br />(4) Assessed value and Circuit Breaker Tax Credit information per the St. Joseph County Auditor's office.
<br />(Subject to the attached Impact Statement
<br />dated November 25, 2024 of Baker Tilly Municipal Advisors, LLC)
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